|Bid||3.2300 x 0|
|Ask||2.6000 x 0|
|Day's range||2.7000 - 2.9700|
|52-week range||2.4100 - 12.4810|
|Beta (5Y monthly)||1.57|
|PE ratio (TTM)||9.05|
|Earnings date||19 Feb 2020|
|Forward dividend & yield||0.16 (5.56%)|
|Ex-dividend date||25 Mar 2020|
|1y target est||16.42|
We are in an ASX bear market. If you are looking for opportunities to buy the dip, here is 1 more ASX industry you might be better off avoiding in 2020.The post Another ASX industry to avoid in 2020 appeared first on Motley Fool Australia.
(Bloomberg) -- Markets are bracing for a wave of new equity offerings in coming days as Australian public companies facing the novel coronavirus crisis race to refill fast-dwindling cash reserves.Billboard agency oOh!media Ltd. and online travel agent Webjet Ltd. last week went to investors with terms for new equity, marking the first among what is set to soon be a much larger number. Excluding rights offerings, companies have about $1.2 billion worth of existing shares that began trading this year in Australia, heading for the strongest first quarter since 2015, according to data compiled by Bloomberg.“The overriding priority for most boards right now is hanging in there,” KPMG LLP’s Sydney-based deals team wrote in a March 19 note to clients. “Given the challenges in sourcing appropriate funding from lenders, we suspect the most suitable course of action for many scenarios will be to look to raise equity.” The consultancy advised companies planning to tap the market to “get your ducks in a row for an equity raise.”The global shutdown from the coronavirus containment, including in Australia which last week closed its borders to non-residents and banned large indoor gatherings, has wreaked havoc on corporate earnings estimates. Travel services, along with discretionary sectors such as advertising and retail are among the worst hit, forcing businesses worldwide such as Air France-KLM and Airbus SE to weigh tapping government-backed loans and online rental business Airbnb Inc. to consider raising funds.Webjet, which halted trading on March 19, said it’s pending an announcement in relation to the outcome of a proposed new raising. oOh!media, which also suspended trading, conducted management calls with investors last week as it was seeking more than A$160 million in fresh funds, according to a person familiar with the matter, who asked not to be identified as the discussions are private.The halt “reflects discussions we are having with major shareholders,” an oOh!media spokesman said by phone on Friday in response to Bloomberg’s inquiry. “One option under discussion is a capital raising.”Another likely candidate is Flight Centre Travel Group Ltd. The travel agent said it could resume trading as soon as Monday or when an announcement is released. Flight Centre “sustainability likely requires capital raising” and a placement of as much as A$150 million would be feasible, Credit Suisse Group AG analysts wrote in a note last week.“What you can expect to see is that when companies are within a sector where one starts on a capital raising, the others will all do so, because there’s a sense of urgency,” Jun Bei Liu, a Sydney-based portfolio manager at Tribeca Investment Partners Pty said by phone on Friday, adding she expects herself to be “very busy” this week.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Unfortunately for some shareholders, the Webjet (ASX:WEB) share price has dived 70% in the last thirty days. Given the...
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